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 Fillable Online KANSAS BUSINESS TAX APPLICATION PART 1 Fax 2021

Business Tax Application 2021-2025 Form

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Video instructions and help with filling out and completing Fillable Online KANSAS BUSINESS TAX APPLICATION PART 1 Fax Form

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Instructions and help about 16 kansas cr

your business made 250 000 in profit this year don't go buy enough for army yet make sure you pay your tax bill first on your schedule c 250 000 in net income your self-employment tax is 24 000 and half of its deductible if you're in a certain business you actually won't get a qbi deduction because your income is too high and once your income hits 200k you start paying additional medicare tax standard deduction of 12 000 550 helps you out a little bit and your total taxable income is 225 000 when all is said and done your tax bill is 78 000 or 31 now if you're married to things change a lot you get a bigger standard deduction of 25 000 your qbi deduction kicks in and that cuts your income by 42 000 total taxable income of 170 no additional medicare tax your total tax bill comes down to 53 000 or 21 in this case being married saved you a ton of dough and you probably can go buy yourself something nice follow for more

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